What is a Form 1040-EZ?

Posted on by Muna Meyer

What is a Form 1040-EZ?

The 1040EZ is a simplified form used by the IRS for income taxpayers that do not require the complexity of the full 1040 tax form. Simply select your tax filing status and enter a few other details to estimate your total taxes.

What is the difference between 1040-EZ and 1040?

Form 1040-EZ is, not surprisingly, the easiest to fill out. 1040-A is longer and a bit more complex, and Form 1040 is the most detailed and challenging of the lot. While anyone can file Form 1040, you must meet certain requirements to use the shorter 1040-EZ or 1040-A forms.

Is 1040-EZ discontinued?

Form 1040EZ was a shortened version of Form 1040 for taxpayers with basic tax situations. The form was discontinued as of the 2018 tax year and replaced with the redesigned Form 1040.

Is there a form 1040EZ for 2020?

Form 1040EZ has been discontinued by the IRS beginning with the 2018 income tax year. If you filed Form 1040EZ in prior years, then you will use the redesigned IRS Form 1040 or Form 1040-SR for the 2021 tax year.

What are the three important qualifications for a 1040EZ tax return?

In order to file Form 1040EZ, people must meet all of the following qualifications, as outlined by the IRS:

  • Your filing status is single or married filing jointly.
  • You don’t claim any dependents.
  • You don’t claim any adjustments to income.
  • You claim only the earned income credit.

Is there a 1040 EZ form for 2020?

Why would you fill out a 1040 instead of a 1040EZ?

The simplest IRS form is the Form 1040EZ. The 1040A covers several additional items not addressed by the EZ. And finally, the IRS Form 1040 should be used when itemizing deductions and reporting more complex investments and other income.

How do I fill out 1040EZ?

How to Fill Out a US 1040EZ Tax Return

  1. 1 Determining if You Can Use the Form 1040EZ and Gathering Materials.
  2. 2 Completing the Top Section.
  3. 3 Completing the Income Section.
  4. 4 Completing the Payments, Credits and Tax Section.
  5. 5 Calculating Your Refund or the Amount You Owe.
  6. 6 Finishing and Filing Your Return.

Is there a 1040-EZ for 2019?

More In Forms and Instructions For Tax Year 2018 and later, you will no longer use Form 1040-EZ, but instead use the Form 1040 or Form 1040-SR.